BVCA and TUC host roundtable talks

The two trade bodies hosted the first of two planned roundtables this morning as the private equity industry seeks to appease its fiercest critic.

The British Private Equity and Venture Capital Association (BVCA) and the Trade Union Congress (TUC) hosted a roundtable discussion for around 20 representatives from private equity firms and trade unions this morning.

The private equity representatives at the roundtable ranged from global buyout firms like KKR, Permira and Apax Partners, through mid-market firms like Bridgepoint and Hermes Private Equity, to lower mid-market investors like ISIS Equity Partners.

The BVCA said in a statement that “the tone of the meeting was positive and while there is still much ground to be covered, both parties believe a good start has been made.”

A spokeswoman for the BVCA would not say what had been discussed nor who the individual attendees were. She did however confirm that the next roundtable discussion would be held in October.

The UK private equity industry has recently been in fierce conflict with national trade unions and left-leaning politicians, who have lambasted buyout executives as asset-strippers and tax-dodgers.

The UK Parliament has so far held three hearings of the Treasury Select Committee where private equity representatives have been invited to defend the industry against such charges.